Healthpeak (DOC) came out with quarterly funds from operations (FFO) of $0.45 per share, beating the Zacks Consensus Estimate of $0.44 per share. This compares to FFO of $0.45 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 2.27%. A quarter ago, it was expected that this health care real estate investment trust would post FFO of $0.44 per share when it actually produced FFO of $0.45, delivering a surprise of 2.27%.Over the last fou ...

Healthpeak Properties, Inc. (DOC) is slated to report third-quarter 2024 results on Oct. 24 after market close. While the quarterly results are expected to reflect year-over-year growth in revenues, funds from operations (FFO) per share might exhibit a decline.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.In the last reported quarter, this healthcare real estate investment trust (REIT) posted an FFO as adjusted per share of 45 cents, beating the Zacks Consensus Estimate by 2.27%. ...

Analyst’s Disclosure: I/we have a beneficial long position in the shares of DOC, O, ADC either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. While this article may sound like financial advice, please observe that the author is not a CFA or in any way licensed to give financia ...

MarsBars Recency bias is a cognitive bias that favors recent events over historical ones. This phenomenon appears in many aspects of life, including stock valuations and how they're interpreted by investors. For example, REITs became very cheap in the 2022-2023 timeframe, and only this year did they start climbing up. As such, some names may appear to be pricey when comparing them against a 1-2 year timeframe, but that would mean investors are ignoring the fact that many REITs are still rather cheap compare ...

Alistair Berg In a recent article, I explained that "I decided that I would put together a research report for a 10-stock REIT portfolio. The goal here is to select 10 REITs diversified across property sectors that are trading at a discount." In Part 1 of the series, I highlighted these three REITs to include in the new retirement portfolio: Sun Communities (SUI) Crown Castle (CCI) VICI Properties (VICI) These three REITs are spread across various sectors – manufactured housing, cell towers, and gaming – al ...

Healthpeak Properties, Inc. (DOC) is well-poised to benefit from its diversified and top-quality healthcare real estate assets in the high barrier-to-entry markets of the United States. Solid demand for lab assets is likely to drive its lab portfolio's growth. Its continuing care retirement community (CCRC) portfolio is poised to gain from the rise in senior citizens' healthcare expenditure. A healthy balance sheet position augurs well. Shares of this Zacks Rank #2 (Buy) company have rallied 36.7% over the ...

Healthpeak (DOC) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. The power of ...

akinbostanci The Federal Reserve opted to keep interest rates steady at about 5.3%. This means that all eyes are on September 18th when they will once again vote on interest rates. It's now widely expected that rates will be cut then and likely a second or even third cut by the end of this year. Many REITs have commenced a rally anticipating a rate cut. However, we believe that there is plenty of room to run for REIT's as shares remain undervalued. Brad Thomas ✿ @rbradthomas · 2h $IRET +9.9% vs $VNQ +3.7% ( ...

Healthpeak Properties, Inc. (DOC) reported second-quarter 2024 funds from operations (FFO) as adjusted per share of 45 cents, beating the Zacks Consensus Estimate by a penny. The reported figure remained unchanged from the prior-year quarter. Behind the Headlines During the reported quarter, Healthpeak executed lab new and renewal leases totaling 797,000 square feet. For the outpatient medical portfolio, new and renewal leases aggregated 905,000 square feet. Dividend Update Healthpeak revised its guidance f ...

Financial Data and Key Metrics Changes - The company reported FFO as adjusted of $0.45 per share and AFFO of $0.39 per share, with total portfolio same-store growth of 4.5% [96] - The net debt to EBITDA ratio ended the quarter at 5.2 times, with nearly $3 billion of liquidity available [98] - Year-to-date, the company repurchased $188 million of stock at a blended price of just under $18 per share, equating to an implied cap rate in the high 7% range [91] Business Line Data and Key Metrics Changes - In the life science business, the company signed 800,000 square feet of leases in Q2, with 75% being renewals and 25% new leases, achieving a positive releasing spread of 6% [82] - The outpatient medical business saw occupancy increase by 20 basis points and re-leasing spreads were positive at 4.7% [85] - The same-store growth for CCRCs was reported at 2%, driven by occupancy growth and strong rate growth of 7% [104] Market Data and Key Metrics Changes - The leasing pipeline remains strong, with 620,000 square feet under signed LOI, including significant projects like Vantage, Portside, and Directors Gateway [84] - The company noted that more than half of the LOI pipeline is new leasing on currently vacant space, indicating potential for future growth [41] - The market for outpatient medical asset sales was characterized by a blended cap rate of 6.8% for recent transactions [89] Company Strategy and Development Direction - The company is focused on enhancing its relationships within the healthcare ecosystem, with 70% of its team now directly supporting real estate, up from less than 50% two years ago [80] - The strategy includes fine-tuning the portfolio through opportunistic asset sales, which are expected to be accretive to future growth [60] - The company plans to continue pursuing new development opportunities in core markets, with a projected outpatient medical development pipeline of $500 million to $1 billion over the next few years [33] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the leasing environment, noting that tenants are becoming more comfortable making real estate decisions, which has led to a strong leasing quarter [81] - The company anticipates a strong Q3, with additional leases signed in July and a robust pipeline indicating continued demand [84] - Management highlighted the importance of capital raising in the biopharma sector as a positive indicator for future leasing activity [17] Other Important Information - The company executed early renewals across its portfolio, extending the blended maturity date to December 2035, with a blended re-leasing spread of 13% [87] - The company has significant dry powder for future growth, with plans for acquisitions, redevelopments, and stock buybacks [105] - The merger integration is progressing well, with year one synergies tracking higher than $45 million [78] Q&A Session Summary Question: What explains the behavioral switch on the life science space with tenants starting to think more constructively about doing deals? - Management noted that strong capital raising in the biopharma sector has positively influenced tenant leasing decisions, with the first half of the year being the strongest since 2021 [17] Question: Can you quantify how much you can grow the outpatient medical development pipeline over the next few years? - Management indicated that the outpatient medical development pipeline could grow substantially, estimating $500 million to $1 billion over the next few years [33] Question: What is the rationale behind the seller financing for asset sales? - The rationale for seller financing was to ensure certainty of execution in a volatile market, allowing the company to close transactions without retreating on price [26] Question: How much of the LOI pipeline is related to existing tenants versus new tenants? - More than half of the LOI pipeline is new leasing on currently vacant space, indicating significant upside potential [41] Question: What types of tenant activity are being seen on the new leasing side? - The company is capturing market share, with leasing activity primarily tied to companies that have successfully raised capital, including both existing tenants and new tenants [120]